Four New Ps

Personalization: It is here referred customization of products and services through the use of the Internet. Early examples include Dell on-line and Amazon.com, but this concept is further extended with emerging social media and advanced algorithms. Emerging technologies will continue to push this idea forward.

Participation: This is to allow the customer to participate in what the brand should stand for; what should be the product directions and even which ads to run. This concept is laying the foundation for disruptive change through democratization of information.

Peer-to-Peer: This refers to customer networks and communities where advocacy happens. The historical problem with marketing is that it is “interruptive” in nature, trying to impose a brand on the customer. This is most apparent in TV advertising. These “passive customer bases” will ultimately be replaced by the “active customer communities”. Brand engagement happens within those conversations. P2P is now being referred as Social Computing and is likely to be the most disruptive force in the future of marketing.

Predictive modeling: This refers to algorithms that are being successfully applied in marketing problems (both a regression as well as a classification problem).

Adopted from Wikipedia

I. Read & translate the text. Write out necessary vocabulary.

II. Write sentences with vocabulary. Learn the vocabulary.

III. What is the main idea of the marketing (retell the text).

Brands

What is a brand? In my opinion, it's not only a trademark of some company, but the name of certain product we use every day. For example, speaking about coffee most of us say Nescafe, but not 'coffee'. This short example also illustrates the main aim of producers - to create brand popularity, so that most of people would recognize the product among the competitors products. Advertising campaigns are launched to enhance brand awareness, that's why sometimes brand costs more than the whole company, for example one day of advertising at Yandex website (what is called by Yandex sales managers as 'increasing brand popularity') costs $20000. Recognition of a brand or, how it's called, brand awareness helps people to find the necessary size, quantity, taste, especially, when they are in another country and don't know the local products' specifications. What qualities should brand name possess? First of all, it should be eye-catching. Name Lab, company, which creates brand names, gives an example of 7-Up Company, which lost $120 millions using name 'Like Cola' as a brand name first time after launching its product. Lexicon Company was more original, creating brand name 'Pentium' for the Intel Processor: "We've got '-ium' from the scientific text - founder of Lexicon says, - and multiplied it with 'pent'. It sounded very strong, like a real chemical element." Name Sony is based on 'son', which means sound in most of the countries. As all brand names are registered and protected by law, no one else can produce the same product under such brand name. It's a very hard to create a new brand name, as more than 365000 brands were registered in October, 2000 by American Patent Organization, whereas Oxford dictionary consists of 615100 words, so some companies use brand stretching - using a leader-brand to launch a new product in a new category, e.g. 'Bochkarev' chips. Brands always add value to products. That's why branded products seem to be more expensive among other ones. But if we pay more, we pay for better quality. All in all, brands are one of the moving forces of globalization.

I. Read & translate the text. Find and write out expressions from the text.

II. Write sentences with vocabulary. Learn the vocabulary.

III. Make a dialogue about your favorite brand names.

IV. Is it necessary to buy famous products? (Write an essay).

V. Do we pay for a product or for a brand name? (Write notes).

VI. What famous brands do you know? (Make a dialogue).